Recent Changes to the REALTORS® Code of Ethics

Below, you will find the most recent updates to the Code of Ethics, but please take the time to review the entire REALTOR® Code of Ethics, or view each update individually by clicking the paragraph titles below.

Revised and added text is noted in italics. Strikeouts indicate deletions.

2021 Changes to the Code of Ethics

Revised Preamble, paragraph 3

In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession. REALTORS® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, discrimination against the protected classes under the Code of Ethics, or fraud, bring such matters to the attention of the appropriate Board or Association of REALTORS®. (Amended 1/21)

NEW Standard of Practice 10-5
REALTORS® must not use harassing speech, hate speech, epithets, or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. (Adopted and Effective 11/2020)

2020 Changes to the Code of Ethics

Revised Standard of Practice 1-7
When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide, as soon as practical, a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/19) (Amended 1/20)

NEW Standard of Practice 3-11
REALTORS® may not refuse to cooperate on the basis of a broker's race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. (Adopted 1/20)

Revised Standard of Practice 12-1
Unless they are receiving no compensation from any source for their time and services, REALTORS® may use the term "free" and similar terms in their advertising and in other representations provided that all terms governing availability of the offered product or service are clearly disclosed at the same time. (Amended 1/97) only if they clearly and conspicuously disclose:

  1. by whom they are being, or expect to be, paid;
  2. the amount of the payment or anticipated payment;
  3. any conditions associated with the payment, offered product or service, and;
  4. any other terms relating to their compensation. (Amended 1/20)

REMOVED Standard of Practice 12-2
REALTORS® may represent their services as "free" or without cost even if they expect to receive compensation from a source other than their client provided that the potential for the REALTOR® to obtain a benefit from a third party is clearly disclosed at the same time. (Amended 1/97)

Deleted (1/20)

2019 Changes to the Code of Ethics

Revised Standard of Practice 1-7
When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/ landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/93) (Amended 1/19)

2018 Changes to the Code of Ethics

Revised Standard of Practice 12-10

REALTORS®' obligation to present a true picture in their advertising and representations to the public includes Internet content posted, and the URLs and domain names they use, and prohibits REALTORS® from:

  1. engaging in deceptive or unauthorized framing of real estate brokerage websites;
  2. manipulating (e.g., presenting content developed by others) listing and other content in any way that produces a deceptive or misleading result;
  3. deceptively using metatags, keywords or other devices/methods to direct, drive, or divert Internet traffic; or
  4. presenting content developed by others without either attribution or without permission, or
  5. to otherwise mislead consumers. otherwise misleading consumers, including use of misleading images. (Adopted 1/07, Amended 1/13 Amended 1/18)

There were no 2017 changes to the Code of Ethics.
2016 Changes to the Code of Ethics

Revised Standard of Practice 12-5
REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner. This Standard of Practice acknowledges that disclosing the name of the firm may not be practical in electronic displays of limited information (e.g. "thumbnails", text messages, "tweets", etc.). Such displays are exempt from the disclosure requirement established in the Standard of Practice, but only when linked manner either in the advertisement or in electronic advertising via a link to a display that includes with all required disclosures. (Adopted 11/86, Amended 1/11 Amended 1/16)
There were no 2015 changes to the Code of Ethics.
2014 Changes to the Code of Ethics

Revised Standard of Practice 3-2
To be effective, a Any change in compensation offered for cooperative services must be communicated to the other REALTOR® prior to the time that REALTOR® submits an offer to purchase/lease the property. After a REALTOR® has submitted an offer to purchase or lease property, the listing broker may not attempt to unilaterally modify the offered compensation with respect to that cooperative transaction. (Amended 1/10) (Amended 1/14)

Revised Article 10
REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Amended 1/11) (Amended 1/14)

REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Amended 1/11) (Amended 1/14)

Revised Standard of Practice 10-3
REALTORS® shall not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Adopted 1/94, Renumbered 1/05 and 1/06, Amended 1/11 Amended 1/14)

Revised Standard of Practice 11-1
When REALTORS® prepare opinions of real property value or price they must:
  1. be knowledgeable about the type of property being valued,
  2. have access to the information and resources necessary to formulate an accurate opinion, and
  3. be familiar with the area where the subject property is located
unless lack of any of these is disclosed to the party requesting the opinion in advance.

When an opinion of value or price is prepared, other than in pursuit of a listing or to assist a potential purchaser in formulating a purchase offer, such opinions the opinion shall include the following unless the party requesting the opinion requires a specific type of report or different data set:
  1. identification of the subject property
  2. date prepared
  3. defined value or price
  4. limiting conditions, including statements of purpose(s) and intended user(s)
  5. any present or contemplated interest, including the possibility of representing the seller/landlord or buyers/tenants
  6. basis for the opinion, including applicable market data
  7. if the opinion is not an appraisal, a statement to that effect (Amended 1/10)
  8. disclosure of whether and when a physical inspection of the property's exterior was conducted
  9. disclosure of whether and when a physical inspection of the property's interior was conducted
  10. disclosure of whether the REALTOR® has any conflicts of interest (Amended 1/14)
2013 Changes to the Code of Ethics

Revised Standard of Practice 12-10
REALTORS®' obligation to present a true picture in their advertising and representations to the public includes Internet content posted, and the URLs and domain names they use, and prohibits REALTORS® from:
  1. engaging in deceptive or unauthorized framing of real estate brokerage websites;
  2. manipulating (e.g., presenting content developed by others) listing and other content in any way that produces a deceptive or misleading result; or
  3. deceptively using metatags, keywords or other devices/methods to direct, drive, or divert Internet traffic; or , or to other mislead consumers
  4. presenting content developed by others without either attribution or without permission, or
  5. to otherwise mislead consumers. (Adopted 1/07, Amended 1/13)
2012 Changes to the Code of Ethics

New Standard of Practice 1-16
REALTORS® shall not use, or permit or enable others to use, listed or managed property on terms or conditions other than those authorized by the owner or seller. (Adopted 1/12)

Revised Article 15
REALTORS® shall not knowingly or recklessly make false or misleading statements about competitors other real estate professionals, their businesses, or their business practices. (Amended 1/12)

Revised Standard of Practice 15-2
The obligation to refrain from making false or misleading statements about competitors other real estate professionals, competitors' their businesses and competitors' their business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means. (Amended 1/12)

Revised Standard of Practice 15-3
The obligation to refrain from making false or misleading statements about competitors other real estate professionals, competitors' their businesses and competitors' their business practices includes the duty to publish a clarification about or to remove statements made by others on electronic media the REALTOR® controls once the REALTOR® knows the statement is false or misleading. (Amended 1/12)

Revised Article 17
In the event of contractual disputes or specific non-contractual disputes as defined in Standard of Practice 17-4 between REALTORS® (principals) associated with different firms, arising out of their relationship as REALTORS®, the REALTORS® shall mediate the dispute if the Board requires its members to mediate. If the dispute is not resolved through mediation, or if mediation is not required, REALTORS® shall submit the dispute to arbitration in accordance with the regulations policies of their Board or Boards rather than litigate the matter.

In the event clients of REALTORS® wish to mediate or arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall mediate or arbitrate those disputes in accordance with the regulations policies of their the Board, provided the clients agree to be bound by the decision any resulting agreement or award.

The obligation to participate in mediation or arbitration contemplated by this Article includes the obligation of REALTORS® (principals) to cause their firms to mediate or arbitrate and be bound by any resulting agreement or award. (Amended 1/12)

Revised Standard of Practice 17-2
Article 17 does not require REALTORS® to mediate in those circumstances when all parties to the dispute advise the Board in writing that they choose not to mediate through the Board's facilities. The fact that all parties decline to participate in mediation does not relieve REALTORS® of the duty to arbitrate.

Article 17 does not require REALTORS® to arbitrate in those circumstances when all parties to the dispute advise the Board in writing that they choose not to arbitrate before the Board. (Amended 1/12)